AppAsia signs MOU with ICAP to develop eConfirm in Pakistan
27th January 2025, Kuala Lumpur – eConfirm, the leading industry-wide electronic bank confirmation platform, is thrilled to announce the signing of a Memorandum of Understanding (MOU) with the Institute of Chartered Accountants of Pakistan (ICAP). This collaboration marks a significant milestone in eConfirm’s commitment to revolutionising the audit confirmation process across multiple regions and underscores the platform’s expansion into international markets.
The MOU was digitally signed between AppAsia Executive Director, Mr. Calvert Wong, and ICAP Secretary, Mr. Omair Jamal, during a formal ceremony. The signing was witnessed by ICAP President, Mr. Farrukh, ICAP Vice President, Ms. Khursheed, a representative for the Pakistan High Commission in Malaysia, Ms. Sughra Habib, and ICAP ASEAN Chapter representative, Mr. Humayun.
The partnership with ICAP aims to digitalise and streamline the bank confirmation process in Pakistan, ensuring greater efficiency, security, and accuracy for auditors, banks, and businesses. This collaboration reflects ICAP’s dedication to adopting innovative solutions that align with global best practices and modernise the auditing profession in Pakistan. This strategic move follows the successful MOU signed with the Philippine Institute of Certified Public Accountants (PICPA) in November 2024. Since then, eConfirm has gained significant traction in its overseas expansion efforts, further solidifying its reputation as the preferred platform for audit confirmations in Asia and beyond.
Speaking on the occasion, Mr. Calvert Wong, Executive Director of AppAsia stated, “We are delighted to partner with ICAP as we continue our mission to simplify and digitalise the audit confirmation process on a global scale. Our collaboration with ICAP represents a shared vision to promote efficiency, transparency, and trust in the financial ecosystem. This MOU with ICAP further demonstrates our commitment to expanding eConfirm’s footprint across borders.”
The MOU signing with ICAP signifies the growing demand for innovative audit solutions and the importance of fostering strong partnerships with professional accounting bodies. Through this collaboration, eConfirm and ICAP will work hand-in-hand to onboard banks and audit firms in Pakistan, paving the way for seamless integration and the adoption of eConfirm’s digital platform.
As eConfirm accelerates its international expansion, the platform continues to gain recognition for its role in transforming the audit confirmation process into a faster, more secure, and reliable solution. With the recent MoU signing with ICAP, eConfirm is poised to become an integral part of the audit ecosystem in Pakistan, just as it has successfully established itself in other regions.
About eConfirm
eConfirm is a leading platform designed to streamline and digitalise the audit confirmation process. By leveraging advanced technology, eConfirm aims to enhance the accuracy, efficiency, and security of audit confirmations, contributing to the ongoing modernisation of the audit industry.
For more information, visit https://econfirm.global/
About ICAP
The Institute of Chartered Accountants of Pakistan (ICAP) is a premier accounting body committed to upholding excellence in the accounting and auditing professions. With a strong emphasis on professional development and governance, ICAP continues to foster growth and innovation across Pakistan’s financial sector.
For more information, visit https://icap.org.pk/
